Greystar Acquires Gardens East Apartments In Palm Beach Gardens For $92.16M

The Gardens East apartments in Palm Beach Gardens have been sold for $92.16 million in a recent transaction. The multifamily property spans over 44.3 acres and consists of 448 apartments, offering a total of 390,319 square feet of living space. The sale price translates to an average per unit price of $205,714, with a price per square foot of $236. The property is located at 10000 Alternate A1A in Palm Beach Gardens.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $92,160,000
• Address: 10000 Alternate A1A, Palm Beach Gardens
• Market: Palm Beach Gardens
• Acres: 44.3

Greystar, a real estate company, acquired the Gardens East apartments from PGIM Real Estate. This marks the second South Florida deal between Greystar and PGIM Real Estate. The transaction was facilitated by Bob Faith, the representative of Greystar, and Eric Adler, the representative of PGIM Real Estate. Berkeley Point Capital provided a mortgage of $72.71 million to Greystar as part of the purchase.